Talk on overview of market misconduct misconducts and offences

On 31 January 2023, Derek Chan SC, Jacky Lam and Ferrida Chan conducted a talk at the offices of the Securities and Futures Commission, on the subject of the market misconduct provisions in the Securities and Futures Ordinance, and an overview of recent important decisions.  

Various important topics were canvassed, including the relevance of Australian authorities; a review of the principles set out in recent landmark decisions (e.g. Fu Kor Kuen, Young Bik Fung, and the Market Misconduct Tribunal’s report on CITIC); the scope and application of s 300 of the SFO; and points to note in dealing with ramp and dump cases.    

The talk was well attended by over 100 members of the Commission’s legal services and enforcement divisions.  

The queries and discussions raised during the presentation highlighted the need for practitioners to consistently remain up-to-date on how Parts XIII and XIV of the SFO have been construed by the Courts and by the Market Misconduct Tribunal, and the manner in which recent authorities have shed light on the nuances of how these offences or misconducts have (or have not) been established.